Research On Financial Risk Control Of D Company Under The Background Of De-leverage

In 2016,Xi Jinping proposed a new strategy for supply-side structural reform,and identified the key tasks of the current economic work of “ three to one,one reduction and one supplement”.In 2017,the party's 19 th National Congress report clearly stated that it is necessary to actively promote the reduction of macro leverage,especially to reduce the leverage ratio of state-owned enterprises.For coal enterprises,they usually have the characteristics of serious overcapacity and high debt scale.The macro-economy is in a period of transformation and adjustment.The investment income of enterprises has a marginal decline due to the pressure of economic downturn,facing large market risks and financial risks,affecting the healthy and stable development of the entire national economy.How the capital structure should be determined and adjusted,how to use the financial leverage to obtain additional income while avoiding or mitigating financial risks is worth studying.Any enterprise may face the problem of how to accurately identify and evaluate financial risks and reasonably and effectively control them.Therefore,financial leverage must be used moderately.If the financial leverage is too small,it will not be able to play the role of tax credit.Excessive use of financial leverage can easily put companies at risk of default on their debts.Starting from the related theories of risk management,financial leverage and capital structure,combined with the actual data of D Company,the paper first identifies the financial risks of D Company from four aspects: financing,investment,operation and income distribution.After analyzing the causes of the risks,it was found that the risk of financing activities was caused by a single financing channel and increased financing difficulty.The risk of investment activities is due to the lack of rationality in investment decisions and the blind selection of projects.The risk of operating activities is due to insufficient profitability,and the collection of accounts receivable is weak,which is more likely to generate bad debts.Finally,in order to control the financial risks of the company,the risk control suggestions for the above links are proposed respectively.First,broaden the financing channels and maintain a reasonable capital structure.Second,scientific investment and careful investment decision-making.Third,improve profitability.Reduce costs and increase efficiency.